05-09 Work Session CITY COUNCIL MEETING MINUTES
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Richfield, Minnesota
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1 lie Ilib,01lloni t Special City Council Work Session
May 9, 2017
CALL TO ORDER
The work session was called to order by Mayor Elliott at 6:16 p.m. in the Bartholomew Room.
Council Members Pat Elliott, Mayor; Edwina Garcia; Maria Regan Gonzalez; and Michael
Present: Howard
Staff Present: Steven L. Devich, City Manager; Chris Regis, Finance Manager; Pam
Dmytrenko, Assistant City Manager/HR Manager; Jim Topitzhofer, Recreation
Services Director; Bill Fillmore, Liquor Operations Director; and, Jared Voto,
Executive Aide/Analyst.
Item #1 KEY FINANCIAL STRATEGIES
Finance Manager Regis and City Manager Devich reviewed the short- and long-term key
financial strategies, including the financial management plan and capital financing plan. The Financial
Management Plan presents a projection of the City's General Fund and the overall tax levy that will
help support General Fund operations and capital financing tax levies. The Capital Financing Plan
reflects the existing debt service tax levy requirements and projected additional tax levy requirements
based on current Capital Improvement Budget and Capital Improvement Plan (CIB/CIP) forecasts.
City Manager Devich also discussed fiscal disparities and local government aid, as it relates to the
key financial strategies.
ADJOURNMENT
The work session was adjourned by unanimous consent at 6:57 p.m.
Date Approved: May 24, 2017
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Elliott
Ja ed Vot n L. Devich
Executive Aide/Analyst Ci Manager